Golden Star Resources Ltd. (GSS) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “GOLDEN STAR RES is an un-hedged gold producer they own the Wassa gold project in Ghana and control a number of gold exploration properties in West Africa. The Company is well funded and has strong, operational focused management experienced in West Africa. The Company has become a producing gold company by consolidating a long-lived production base at Bogoso/Prestea in Ghana. Going forward, the Company will continue to focus on growing its gold business. “
A number of other research analysts have also weighed in on the company. CIBC upgraded Golden Star Resources from a sector underperform rating to a sector perform rating in a research report on Thursday, August 25th. National Bank Financial restated an outperform rating on shares of Golden Star Resources in a research report on Monday, June 27th.
Shares of Golden Star Resources (NYSE:GSS) traded down 0.6265% on Thursday, hitting $0.8248. The stock had a trading volume of 327,752 shares. The company has a 50-day moving average of $0.75 and a 200-day moving average of $0.67. The company’s market cap is $233.19 million. Golden Star Resources has a 52-week low of $0.14 and a 52-week high of $1.13.
Golden Star Resources (NYSE:GSS) last issued its quarterly earnings data on Monday, July 25th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.08. The firm earned $51.46 million during the quarter, compared to analysts’ expectations of $58.35 million. During the same period last year, the firm posted ($0.07) EPS. On average, equities analysts anticipate that Golden Star Resources will post $0.05 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in GSS. Peak Asset Management LLC raised its position in shares of Golden Star Resources by 3,500.0% in the second quarter. Peak Asset Management LLC now owns 720,000 shares of the company’s stock valued at $464,000 after buying an additional 700,000 shares during the period. Acadian Asset Management LLC bought a new stake in Golden Star Resources during the second quarter valued at $469,000. Hillsdale Investment Management Inc. bought a new stake in Golden Star Resources during the second quarter valued at $896,000. Finally, Royal Bank of Canada increased its stake in Golden Star Resources by 40,074.2% in the second quarter. Royal Bank of Canada now owns 3,263,350 shares of the company’s stock valued at $2,105,000 after buying an additional 3,255,227 shares in the last quarter.
About Golden Star Resources
Golden Star Resources Ltd. is a gold mining and exploration company. The Company’s segments include Wassa, Bogoso/Prestea and Other. The Company holds interest in the Wassa and Bogoso/Prestea gold mines in Ghana. The Company is pursuing brownfield development projects at its Wassa and Prestea mines. The Company holds interests in gold exploration projects in Ghana and other parts of West Africa.
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